2 Answers
2

Bounties now get a 24hours grace period after they expire in which the person posting the bounty can award it before it is dealt with automatically. After this timer expires, and assuming the person posting the bounty doesn't manually award it, the bounty will follow the automatic award pattern as detailed in the FAQ.

This is quite a new change:

Jeff Atwood
due to a lot of whining valued community feedback on this issue, I decided it can't hurt to extend the auto-award period 24 hours past the true end of the bounty. So, the question will stop being a bounty question at the original scheduled time but the auto-accept calculations will always occur 24 hours after that.

You are correct that this doesn't seem to be reflected in the FAQ correctly.

Also missing from the FAQ seems to be note that the full bounty will be auto-awarded to the accepted answer (if there is one and the question owner posted the bounty) in preference to the highest scoring answer, also a fairly recent change: